Global Speciality Silica Market - Drivers
The growing adoption of specialty silica for chemical mechanical planarization/ polishing (CMP) in the electronics industry is propelling the market growth of specialty silica. CMP is a polishing process that involves the removal of undesirable dielectric products on the surface of the silicon wafer. Specialty silica is broadly used in the manufacturing of flat, defect-free, and smooth surfaces on silicon semiconductors, optical lenses, and sapphire wafers in electronic goods. Moreover, increasing the application of specialty silica in oral care products is projected to propel market growth over the forecast timeframe. Silica is widely used as a cleaning and whitening agent in the manufacturing of various oral care products. High grade of specialty silica that is used in the dental application offers a high cleaning-to-abrasion ratio which is projected to raise its demand across oral care products. Therefore, rising application across oral care products is expected to fuel market growth.
Specialty silica is used as a functional ingredient in personal care products such as toothpaste, sunscreen, and cosmetics. For instance, the global beauty and personal care products market is expected to grow at a compound annual growth rate of 7.6% from 2022 to 2030 to reach US$ 972.7 billion by 2030.
Global Specialty Silica Market - Restraints
High dependency on cyclical end-use industries specialty silica is not a standalone finished product, instead, it is a consumable product that finds application across various end-use industries. Some of the end-use industries such as the automobile industry represent cyclical behavior in terms of demand, which in turn might affect demand for specialty silica. As a result of derived demand from the end-use industries, the growth, and profitability of the specialty silica market depend on the growth and profitability of end-user industries. This, in turn, could become a major challenge for market players operating in the global market. The major disadvantage of specialty silica filler is that it is very hard which leads to increased wear in polymer processing instruments. Moreover, the availability of cost-effective substitutes of silica gel and colloidal silica is also projected to restrict the market growth of specialty silica over the forecast period.
Global Specialty Silica Market - Market Opportunities
Specialty Silica Market Report Snapshots
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